Tweet
The interview below was conducted by Greg Davis, coordinator of the Ski Nautique Big Dawg Slalom Series. He has given us permission to repost it here. Enjoy!
BILL, YOU ARE THE PRESIDENT AND CEO OF CORRECT CRAFT?
Yes, Greg, I am the President and CEO of Correct Craft, builder of the world’s best ski boat!
I THINK YOU JOINED CORRECT CRAFT IN THE SUMMER OF 2006?
Actually it was in the fall of 2006.
TELL US A LITTLE ABOUT THE PAST THREE YEARS:
Well, it has been a very interesting three years.
When I first arrived I needed to deal with a lot of confusion related to the company having five CEO’s in less than five years. There was some uncertainty among the dealers and employees, and a large number of changes within the company that needed to be made. Correct Craft was a great company, but during the ten years before I came, they had really missed a lot of opportunities to improve. Fortunately, we were able to make the changes that needed to be made and the positive impact of our changes came very quickly.
The second stage of my time with Correct Craft was spent managing the transition in ownership. Over several years many individuals in the Meloon family thought that the best decision for Correct Craft in the long run would be to sell the company to someone who could invest in the company and help Correct Craft reach its potential. Fortunately for us, many in the Meloon family remained with the company after selling and they still play a key role today. Our Chairman Emeritus is Ralph Meloon, who at age 92 still arrives for work every day and is an incredible supporter and gives encouragement to all of us. Our Board Chairman is Ken Meloon and he spends several months a year in Florida and his experience continues to help us. Our VP of Product Development is Greg Meloon. In his role Greg does an awesome job ensuring that all the values held so dear by the Meloon family continue to be built into our product. In addition to Ralph, Ken and Greg, there are others from the Meloon family who continue to play important roles in our company.
The third stage would be managing through the global economic collapse that significantly impacted our industry. Nationwide new boat construction was off over 80% last year and that is huge. Boat builders everywhere were severely impacted by the global collapse and we were not exempt. While we were impacted less than most, we still had to navigate through a very difficult time. Fortunately, the changes we had made before the collapse combined with a continued focus on improvement helped us get through the toughest of times. We worked hard to re-invent our business model during this time and we made the tough decisions we needed to make to ensure the long term success of our company.
The final stage is where we are today which is managing in the “new normal.” The boat business is still way off its peak of 3- 4 years ago but fortunately we have made the right decisions to be successful today and in the future.
SINCE YOU JOINED CORRECT CRAFT, WHAT HAS BEEN YOUR BIGGEST CHALLENGE OR PROBLEMS, AND WHAT ACCOMPLISHMENT ARE YOU MOST PROUD OF?
The biggest challenge by far has been leading through what may have been the biggest collapse ever in the boating industry during late 2008 through 2009. Fortunately our team was up for the challenge and Correct Craft has come out of that time a much better company.
We have had a tremendous amount of accomplishments over the past three years. Boating Industry magazine wrote that the past three years Correct Craft has been “on an aggressive improvement path in the likes of which the marine industry has never seen.” However, if I had to pick one, I would definitely say my proudest accomplishment is the incredible team we have built. As leader I get to hear the accolades when things go well but, frankly, I play a very small part. The real work is done by our incredible team who loves our company and lives the Nautique life. We have people in all areas of our company who are passionate about our product and pleasing our customers and that makes my job easy.
WHAT IS THE MOST GRATIFYING EXPERIENCE ABOUT BEING PRESIDENT, AND WHAT DO YOU LIKE THE LEAST ABOUT BEING PRESIDENT?
Probably the most gratifying aspect of my leading Correct Craft is helping the company live out our culture of faith. The company has always talked about a faith culture but I can truly say we are now living it out. We do service projects in our community and internationally. The last three years we have taken groups of employees to impoverished countries to help people less fortunate than us. We have done numerous local community projects. I tell our team that I want people to know our values not because we say them, but because they see them in the way we live. We want to serve others. When we are mistreated we want to demonstrate forgiveness. We want to help those who can never pay us back, even when we get no credit or applause for it.
Probably the thing I like least is when we have to make people changes. That keeps me up at night, but I know we have to do what is best in the long run for our company and customers.
WHAT WAS BILL YEARGIN DOING PRIOR TO JOINING NAUTIQUE?
I was doing two things. I was an executive with Rybovich, a company in South Florida in the boat building, yacht service and marina businesses. I was also traveling around the world speaking on leadership and strategic issues at business conferences. These speeches allowed me to travel the world and meet many key international business leaders and I enjoyed that.
I REMEMBER MEETING YOU, IT WAS AT THE 2006 BIG DAWG AT ISLES OF HANCOCK, I ASKED IF YOU WOULD BE INTERESTED IN RIDING IN THE BOAT DURING THE BIG DAWG TOURNAMENT AND WATCHING SOME OF THE BIG DAWG SKIERS COMPETE. DO YOU REMEMBER? WHAT WERE SOME OF YOUR THOUGHTS AT THAT TIME REGARDING THE TOURNAMENT AND THE SKIERS?
Yes Greg, that was right after I started, maybe my first week. I was very impressed with the Big Dawg skiers and very impressed with the tournament. I knew immediately that the Big Dawg was something we wanted to continue to support and we have done that, even through a pretty tough environment.
I KNOW YOU GET OUT ON THE WATER AS MUCH AS POSSIBLE WITH YOUR FAMILY, TELL US A BIT ABOUT BILL YEARGIN THE DAD, AND BILL YEARGIN THE SKIER.
Well, I consider my role as a dad my biggest responsibility, much more important than any CEO position could be. I have two wonderful daughters who will both be in college this fall and my wife and I have spent innumerable hours with them in our boats over the years. I don’t know of a better way to invest in family than boating.
Actually I am not much of a skier. However, I do love to wake skate and wake surf and spend a lot of time behind our boat. I have had both Andy Mapple and Rhoni Bischoff offer to help me with my skiing and one day I will take them up on their offers!
CAN YOU GIVE US SOME OF YOUR OBJECTIVES REGARDING THE COMPANY’S FUTURE IN THE NEXT FIVE YEARS?
The next five years for Nautique are going to be very exciting. Greg Meloon and his Product Development team are working on some great new product which we believe, people will love. We are also working to improve everything we do. Our team will never become satisfied; we want to be the best getting better.
THE SKI NAUTIQUE 200 IS ALL NEW FOR 2010. HOW DID THIS BOAT COME ABOUT, AND WHO WAS RESPONSIBLE FOR THE DESIGN? IT SEEMED A LITTLE RISKY TO SPEND ALL THE MONEY ON A COMPLETE NEW SKI BOAT, WHEN ACTUALLY THE MARKET FOR SKI BOATS HAD DECLINED SIGNIFICANTLY WITH THE POPULARITY OF WAKEBOARDING AND WAKEBOARD BOATS. DO YOU SEE THE SKI NAUTIQUE BECOMING A BIGGER PART OF THE COMPANY’S VOLUME IN THE FUTURE? HAVE SALES OF THE SKI NAUTIQUE 200 MET YOUR EXPECTATIONS?
First of all let me thank all the Big Dawg skiers who have bought a new Ski Nautique 200 – we appreciate your business and loyalty.
I have to give credit for the Ski Nautique 200 largely to Ken Meloon and Andy Mapple. They were the ones who pushed me to approve development of a new ski boat and I am happy they did. The SN200 was a little risky because we built it at a time when ski boat sales industry wide were dropping. However, Ken and Andy had the vision to see what could happen with a revolutionary new boat.
Many people played important roles in the development of this boat. Greg Meloon and his Product Development team worked hard with Andy Mapple for about two years to get this boat perfect and what a great job they did. The boat is absolutely awesome!
The SN200 has done very well in this market. I did not really know what to expect given the impact of the global economy on the boat business, but I can tell you we have been very happy with our sales of this boat.
I’M GOING TO PUT YOU ON THE SPOT, WHO DO YOU THINK WILL WIN THE 2010 BIG DAWG CHAMPIONSHIP?
I am certain I know who is going to win this year but I better keep it to myself…. Just kidding, I really don’t know, but I can tell you I look forward to being out there for the big day and know it will be fun for the skiers and spectators alike!
THANKS FOR TAKING THE TIME OUT OF YOUR BUSY SCHEDULE TO TALK WITH US.
Greg, for you, anytime. I appreciate what you do with the Big Dawg and I appreciate all the skiers who participate in the event.
BILL, YOU ARE THE PRESIDENT AND CEO OF CORRECT CRAFT?
Yes, Greg, I am the President and CEO of Correct Craft, builder of the world’s best ski boat!
I THINK YOU JOINED CORRECT CRAFT IN THE SUMMER OF 2006?
Actually it was in the fall of 2006.
TELL US A LITTLE ABOUT THE PAST THREE YEARS:
Well, it has been a very interesting three years.
When I first arrived I needed to deal with a lot of confusion related to the company having five CEO’s in less than five years. There was some uncertainty among the dealers and employees, and a large number of changes within the company that needed to be made. Correct Craft was a great company, but during the ten years before I came, they had really missed a lot of opportunities to improve. Fortunately, we were able to make the changes that needed to be made and the positive impact of our changes came very quickly.
The second stage of my time with Correct Craft was spent managing the transition in ownership. Over several years many individuals in the Meloon family thought that the best decision for Correct Craft in the long run would be to sell the company to someone who could invest in the company and help Correct Craft reach its potential. Fortunately for us, many in the Meloon family remained with the company after selling and they still play a key role today. Our Chairman Emeritus is Ralph Meloon, who at age 92 still arrives for work every day and is an incredible supporter and gives encouragement to all of us. Our Board Chairman is Ken Meloon and he spends several months a year in Florida and his experience continues to help us. Our VP of Product Development is Greg Meloon. In his role Greg does an awesome job ensuring that all the values held so dear by the Meloon family continue to be built into our product. In addition to Ralph, Ken and Greg, there are others from the Meloon family who continue to play important roles in our company.
The third stage would be managing through the global economic collapse that significantly impacted our industry. Nationwide new boat construction was off over 80% last year and that is huge. Boat builders everywhere were severely impacted by the global collapse and we were not exempt. While we were impacted less than most, we still had to navigate through a very difficult time. Fortunately, the changes we had made before the collapse combined with a continued focus on improvement helped us get through the toughest of times. We worked hard to re-invent our business model during this time and we made the tough decisions we needed to make to ensure the long term success of our company.
The final stage is where we are today which is managing in the “new normal.” The boat business is still way off its peak of 3- 4 years ago but fortunately we have made the right decisions to be successful today and in the future.
SINCE YOU JOINED CORRECT CRAFT, WHAT HAS BEEN YOUR BIGGEST CHALLENGE OR PROBLEMS, AND WHAT ACCOMPLISHMENT ARE YOU MOST PROUD OF?
The biggest challenge by far has been leading through what may have been the biggest collapse ever in the boating industry during late 2008 through 2009. Fortunately our team was up for the challenge and Correct Craft has come out of that time a much better company.
We have had a tremendous amount of accomplishments over the past three years. Boating Industry magazine wrote that the past three years Correct Craft has been “on an aggressive improvement path in the likes of which the marine industry has never seen.” However, if I had to pick one, I would definitely say my proudest accomplishment is the incredible team we have built. As leader I get to hear the accolades when things go well but, frankly, I play a very small part. The real work is done by our incredible team who loves our company and lives the Nautique life. We have people in all areas of our company who are passionate about our product and pleasing our customers and that makes my job easy.
WHAT IS THE MOST GRATIFYING EXPERIENCE ABOUT BEING PRESIDENT, AND WHAT DO YOU LIKE THE LEAST ABOUT BEING PRESIDENT?
Probably the most gratifying aspect of my leading Correct Craft is helping the company live out our culture of faith. The company has always talked about a faith culture but I can truly say we are now living it out. We do service projects in our community and internationally. The last three years we have taken groups of employees to impoverished countries to help people less fortunate than us. We have done numerous local community projects. I tell our team that I want people to know our values not because we say them, but because they see them in the way we live. We want to serve others. When we are mistreated we want to demonstrate forgiveness. We want to help those who can never pay us back, even when we get no credit or applause for it.
Probably the thing I like least is when we have to make people changes. That keeps me up at night, but I know we have to do what is best in the long run for our company and customers.
WHAT WAS BILL YEARGIN DOING PRIOR TO JOINING NAUTIQUE?
I was doing two things. I was an executive with Rybovich, a company in South Florida in the boat building, yacht service and marina businesses. I was also traveling around the world speaking on leadership and strategic issues at business conferences. These speeches allowed me to travel the world and meet many key international business leaders and I enjoyed that.
I REMEMBER MEETING YOU, IT WAS AT THE 2006 BIG DAWG AT ISLES OF HANCOCK, I ASKED IF YOU WOULD BE INTERESTED IN RIDING IN THE BOAT DURING THE BIG DAWG TOURNAMENT AND WATCHING SOME OF THE BIG DAWG SKIERS COMPETE. DO YOU REMEMBER? WHAT WERE SOME OF YOUR THOUGHTS AT THAT TIME REGARDING THE TOURNAMENT AND THE SKIERS?
Yes Greg, that was right after I started, maybe my first week. I was very impressed with the Big Dawg skiers and very impressed with the tournament. I knew immediately that the Big Dawg was something we wanted to continue to support and we have done that, even through a pretty tough environment.
I KNOW YOU GET OUT ON THE WATER AS MUCH AS POSSIBLE WITH YOUR FAMILY, TELL US A BIT ABOUT BILL YEARGIN THE DAD, AND BILL YEARGIN THE SKIER.
Well, I consider my role as a dad my biggest responsibility, much more important than any CEO position could be. I have two wonderful daughters who will both be in college this fall and my wife and I have spent innumerable hours with them in our boats over the years. I don’t know of a better way to invest in family than boating.
Actually I am not much of a skier. However, I do love to wake skate and wake surf and spend a lot of time behind our boat. I have had both Andy Mapple and Rhoni Bischoff offer to help me with my skiing and one day I will take them up on their offers!
CAN YOU GIVE US SOME OF YOUR OBJECTIVES REGARDING THE COMPANY’S FUTURE IN THE NEXT FIVE YEARS?
The next five years for Nautique are going to be very exciting. Greg Meloon and his Product Development team are working on some great new product which we believe, people will love. We are also working to improve everything we do. Our team will never become satisfied; we want to be the best getting better.
THE SKI NAUTIQUE 200 IS ALL NEW FOR 2010. HOW DID THIS BOAT COME ABOUT, AND WHO WAS RESPONSIBLE FOR THE DESIGN? IT SEEMED A LITTLE RISKY TO SPEND ALL THE MONEY ON A COMPLETE NEW SKI BOAT, WHEN ACTUALLY THE MARKET FOR SKI BOATS HAD DECLINED SIGNIFICANTLY WITH THE POPULARITY OF WAKEBOARDING AND WAKEBOARD BOATS. DO YOU SEE THE SKI NAUTIQUE BECOMING A BIGGER PART OF THE COMPANY’S VOLUME IN THE FUTURE? HAVE SALES OF THE SKI NAUTIQUE 200 MET YOUR EXPECTATIONS?
First of all let me thank all the Big Dawg skiers who have bought a new Ski Nautique 200 – we appreciate your business and loyalty.
I have to give credit for the Ski Nautique 200 largely to Ken Meloon and Andy Mapple. They were the ones who pushed me to approve development of a new ski boat and I am happy they did. The SN200 was a little risky because we built it at a time when ski boat sales industry wide were dropping. However, Ken and Andy had the vision to see what could happen with a revolutionary new boat.
Many people played important roles in the development of this boat. Greg Meloon and his Product Development team worked hard with Andy Mapple for about two years to get this boat perfect and what a great job they did. The boat is absolutely awesome!
The SN200 has done very well in this market. I did not really know what to expect given the impact of the global economy on the boat business, but I can tell you we have been very happy with our sales of this boat.
I’M GOING TO PUT YOU ON THE SPOT, WHO DO YOU THINK WILL WIN THE 2010 BIG DAWG CHAMPIONSHIP?
I am certain I know who is going to win this year but I better keep it to myself…. Just kidding, I really don’t know, but I can tell you I look forward to being out there for the big day and know it will be fun for the skiers and spectators alike!
THANKS FOR TAKING THE TIME OUT OF YOUR BUSY SCHEDULE TO TALK WITH US.
Greg, for you, anytime. I appreciate what you do with the Big Dawg and I appreciate all the skiers who participate in the event.
